Minnesota Housing
Minnesota

RRDL provides deferred loans at no interest to individuals, developers, nonprofits, units of government, and tribal housing corporations for the moderate rehabilitation of existing affordable permanent rental housing throughout Greater Minnesota. RRDL funds are available on a year-round basis and through targeted RRDL Request for Proposals. Owners may apply directly to Minnesota Housing for RRDL funds. Loan terms range from 10 to 30 years depending on the loan amount. Properties containing eight or more units may apply for loans where 10% of the loan amount is forgiven after the loan term has been met.

Funding Source
General revenue
Program Status
Active
State Funding
$9,486,000
Total Funding
$9,486,000
Website
https://www.mnhousing.gov/rental-housing/housing-development-and-capital-programs/deferred-loans-and-grant-programs/rrdl.html
Contact
John Patterson Minnesota Housing [email protected] 651-296-0763
How Provided?
Development loans
Data Collected by Program
Income; Race
Program Type
Capital resources
Income Eligibility Threshold
80% AMI or less
Duration
Variable
Info Source
Interview with program administrator
Last Updated
4/26/23 11:37
Other Eligibility Requirements

No other eligibility requirements

Coordinates Eligibility With

Does not coordinate with other systems

Eligibility Limitations

Does not limit eligibility on these criteria

Priority Populations

Does not prioritize beyond eligibility requirements